if the Jets fold, the double effay, or anyone else, could start a whole new club from the ground up
can't see the problem really
if the Jets fold, the double effay, or anyone else, could start a whole new club from the ground up
can't see the problem really
FFA renewed our license to 2035. we aren't foldingOriginally Posted by boz-monaut
Lulz, how long was the Knights, Fury or Gold Coast's licenses for?
Middleby Gone
Lawrie Out
not that long
Not sure
Every team bar Wellington have been extended till ages away. Wellingtons expires next year or the year after - can't remember what they were waiting on
OK
You do realise that the license is just the right to be able to play in the league. It’s no guarantee that a team WILL be in the league. Further at the time that the licenses were extended it was mentioned that certain performance measures were maintained that allow the FFA to retract a membership, it was one of the reasons that the owners were said to be unhappy as the new extended license still offered no security that your right to compete could just be taken away by the FFA. It’s also said to be a very long list of things which varies greatly from consecutive wooden spoon seasons, failing to pay players, any breaches of the club licensing agreements & low crowd figures. This is why Palmer dropped his lawsuit against the FFA, they have that many get out of gaol free cards in the license agreement he stood no chance of winning. If the extended license helps you sleep at night that’s great but its not helping the owners sleep at night.
Realistically the FFA could just put our license up for sale, another consortium like the proposed Auckland City or that recent Cairns resort and casino that’s backed by Chinese billionaires who are willing to build a 25k seat stadium with their resort and who are already sponsoring the cairns NPL team could fast track their plans should a license become available. Then you have the usual suspects of Wollongong, Townsville & South Melbourne who always like to stick their hands up whenever there is talk about future a-league expansion
Approval from AFC to have an Oceania based side in an AFC comp
FFA need Newcastle just as much as Newcastle need FFA, they won't let us fold it would be a PR disaster.
OPINION: Jets may mean more to Tinkler than Knights
IT is almost two years since that dramatic day when Nathan Tinkler tried to hand back his ownership licence of the Newcastle Jets.
At the time, Tinkler felt ripped off.
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He had been asked to step in and save the Jets when Con Constantine experienced financial hardship, and he agreed to bankroll the endangered club as a gesture of community goodwill.
Eighteen months down the track, the self-made tycoon was over it.
Issues such as the Jason Culina controversy and acquisition fees had soured his attitude towards Football Federation Australia.
Moreover, by this point he had also assumed control of the Newcastle Knights, and after horse racing, his first love was always rugby league.
So Tinkler dumped the Jets in the too-hard basket and walked away.
He ordered his right-hand man, Troy Palmer, to call a press conference and announce the divorce, perhaps underestimating the furore that would unfold.
A few weeks later, after threats of legal action and eventually a face-to-face meeting with FFA chairman Frank Lowy, Tinkler relented, agreeing to honour his commitments.
Two years on, how the landscape has changed.
Tinkler’s pockets are apparently no longer as deep as they once were and, ironically, it now seems the Jets, not the Knights, may be his more valuable commodity.
Tinkler’s Hunter Sports Group has insisted a problematic $10.3million bank guarantee will be in place by March 31, ensuring his tenure at the Knights continues for at least another 10 months.
It would not be the first time HSG officials have ridden out such a situation, insisting that it was a storm in a teacup.
Regardless of whether HSG can meet next week’s deadline, comments in yesterday’s Herald from Wests Group chief executive Philip Gardner suggest some of those involved are at least wondering if Tinkler will hold on to the club.
And this is where the Jets, rather than the Knights, may yet offer some return for the millions Tinkler has poured into Newcastle’s sporting franchises.
For Tinkler, the Knights will always be a financial liability.
Even in the event they did turn a profit, under the terms and conditions of privatisation, that money would be reinvested in the club.
As for on-selling to some other well heeled masochist, a clause entitling Knights members to buy the club back for $1 renders it basically worthless to Tinkler.
The Jets, on the other hand, are potentially an asset that is growing by the day.
Tinkler may live overseas, but presumably he will have noted with interest that Melbourne Heart were sold recently for $11.25million to Manchester City, and an Australia-based consortium is about to fork out a similar amount for Western Sydney before the end of June.
Even taking into account possible transfer fees for Adam Taggart, Mark Birighitti and Josh Brillante, it is unlikely the Jets would be worth as much as either the Heart or Wanderers, both of whom are based in capital cities with far greater commercial opportunities.
But with 10,000 members, a new stadium deal, a strong junior nursery and the chance of playing in the Asian Champions League, the Jets will surely have appeal on a global market.
And given that Tinkler made his fortune by buying cheap and selling at a profit, it is hard to imagine the thought of doing likewise with the Jets would not have crossed his mind, even if that means biding his time.
solid points whether they mean anything to tinkler i don't know;
most important points to potential owners and FFA though
10k members, stadium deal, strong juniors and the potential profit of young players.
chance of playing in the Asian Champions League
OK
Bhahahahahaha, 'transfer fees for players'.
What the **** are those things?
Haha classic Plague!
WE DON'T DO WALKING AWAY !
you are very young
we will loose
The Sheep Quiz needs me just as much as I need the Sheep Quiz, PV4 won't let us fold it would be a PR disaster...........
Some one does realise you have to finish at least in the top 3 of the League to get this to happen??the chance of playing in the Asian Champions League
FFS We haven't even get into the top 60% of teams in the last 4 faaarrrkinng years FFS
That don't look realistic anytime soon either let alone finishing in the top 30% of teams FFS
we're laughin, we'll be around for a thousand years
The article is somewhat correct.
Go through all the clubs of both the NRL and A-League. Look at who the corporate partners.
Doesn't take a rocket scientist to work out that by and large the A-League is full of blue-chip firms with a strong international presence. Some NRL clubs list local two bob car dealers....................
http://www.theherald.com.au/story/21...assets/?cs=303TWO of the remaining assets in Nathan Tinkler’s once vast business empire have fallen under the control of Westpac Bank with receivers appointed to sell properties in Newcastle and Brisbane.
<a href="http://ad-apac.doubleclick.net/N6411/jump/onl.fairfaxregional/newcastleherald/news/localnews;ctype=article;cat=newcastleherald;cat1=n ews;cat2=localnews;cat3=2161527;region=newcastle_h unter;locstate=nsw;pos=2;tile=5;sz=xxxx;ord=528234 89?"><img src="http://ad-apac.doubleclick.net/N6411/ad/onl.fairfaxregional/newcastleherald/news/localnews;ctype=article;cat=newcastleherald;cat1=n ews;cat2=localnews;cat3=2161527;region=newcastle_h unter;locstate=nsw;pos=2;tile=5;sz=xxxx;ord=528234 89?" /></a>
The move comes just days before the former tycoon is due to renew a $10.3million bank guarantee, held with Westpac, that underpins his ownership of the Newcastle Knights.
If Mr Tinkler’s Hunter Sport Group fails to have the bank guarantee in place by March 31, the Knights members club will begin to assume control of Newcastle’s NRL flagship for $1.
Said Jahani, of Sydney insolvency specialist Grant Thornton Australia, confirmed yesterday that he had been appointed by Westpac to oversee the disposal of properties held by Tinkler companies Merewether Investments and Oceltip Investments No.2.
These include a commercial property at 401/1 Honeysuckle Drive, Newcastle, and a vacant block of land at 447 Grandview Road, Pullenvale, Queensland.
Mr Tinkler’s Sydney-based spokesman said the Tinkler Group was ‘‘working closely with Westpac to restructure the group’s borrowings’’.
He said they were ‘‘separate to the Knights’ bank guarantee’’.
‘‘As stated previously ... the bank guarantee remains in place with Westpac and will continue to be following March 31, 2014,’’ he said.
The Honeysuckle property was purchased in September 2011 for $1.115 million, and Westpac registered a mortgage over the property about six weeks later.
It used to be the Newcastle headquarters of Mr Tinkler’s thoroughbred racing empire Patinack Farm and was held by Tinkler company Merewether Investments.
The four-hectare block of land in Queensland was purchased by Oceltip Investments No.2 for $2million in 2008.
Westpac registered a mortgage over the property on August 12, 2011, a week after Mr Tinkler took control of the Knights, which included him securing an initial $20million bank guarantee with Westpac.
Both companies, now under external administration, are owned by Mr Tinkler’s wife, Rebecca, and Mr Tinkler and Hunter Sports Group chief Troy Palmer are directors.
Mr Said refused to reveal the amount owed to Westpac or if the sale of the two properties would cover the debt.
‘‘The process will be that I will be taking these properties to market,’’ he said. ‘‘We have not yet had valuations done as this is in the very early stages.’’
Asked if there would be other properties seized by Westpac to cover the debt, he replied: ‘‘No comment’’.
Merewether Investments also holds two properties in Ocean Street, Merewether, where Mr Tinkler was going to build a $13.3 million beachside castle, before scrapping the plans and moving overseas.
It is understood that New York-based investment bank Jefferies lent Mr Tinkler – through Merewether Investments – $24 million on October 29, 2011, in return for a mortgage over the Ocean Street properties.
They have been for sale for some time.
The Herald reported on Monday that HSG secretly negotiated in January an unprecedented interim two-month bank guarantee agreement with the understanding it would be replaced by one encompassing the balance of the 12-month tenure before March 31.
Under the original terms and conditions of the former billionaire’s takeover of the Knights, he agreed to provide the surety, initially worth $20million for two years, then a $10million guarantee for the next eight years, renewed annually to account for Consumer Price Index (CPI) adjustment.
A guarantee worth $10.3million expired on January 31 and was supposed to have been replaced with one worth $10.52 million, valid for 12 months.
Instead an ‘‘interim’’ bank guarantee for a period of two months was put in place on the understanding it would be replaced by March 31 by one covering the balance of the 12-month tenure.
A loan for an additional $220,000 to cover the cost of CPI was secured by Hunter Sports Group from the Greater Building Society, not Westpac, on February 5.
$1 to own the Knights. That seems a bit expensive.
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